Internal feuding can make the operation of a family business impossible. If the owners and managers of the company cannot work together, the firm will soon suffer. Problems between the stakeholders of family companies are often even more challenging to solve due to emotional relationships. Business owners must look at a company’s operations from a […]
The mandatory minimum wage for full-time employees from January 1st of 2023. The minimum wage from the January 1st of 2023 HUF 232 000 for monthly wages Guaranteed minimum wage for an employee in a job requiring at least secondary education or training HUF 296 400 for monthly wages Beginning from January 1st of 2023. […]
The holding companies are widely used for a lot of different business purpose such as asset protection for families or direct investments of private equity funds, etc. Since the Hungarian Trust is subject to corporate income tax it also benefit the same CIT benefits but has extra features. What makes them usage attractive. In Hungary […]
The business registry of company – where you can apply for Certificate of Good Standing of Hungarian companies – is available for the public for free. But the free database usually is not up to date, you can apply for certificate of good standing issued by the Registrar. The up to date business registry database […]
The New Civil Code (Act 5, 2013) was published in the 31st edition of the Hungarian Official Gazette, which will come into force on 15th of March, 2014 and determines properly the concept of the registered address of the companies. The legal entity does not have to continue its operations at the registered address in […]
Hungary is currently not on the shortlist of wealthy families and private clients when they choose the best location for their family office/private office structure. The reason is that the flexible and efficient Hungarian wealth management and estate planning soltutions are not widely known among the wealth management service providers. Private holdings – the simpliest […]
Eventhough the increasing Hungarian property prices more and more private foreign investor buy luxury and commericial real estates in Hungary. Becuase of the relatively good ROI and devaluated Hungarian Forint. Find more information about the most efficient trust and corporate structures for real estate investment in Hungary. The private investors have to pay 15% personal […]
Legal aspects of the transfer of managed assets between the UK and Hungary : is the acquisition of real estate in Hungary by any UK resident (legal or natural) subject to authorisation? Own the property through SPV or directly by the trustee? After the end of the Brexit transition period (31.12.2020), UK natural and legal […]
Hungary is relatively new entrant to the tax planning market thereafter the tax advantages for non-resident companies ended in y2005. The holding company regime is not the most flexible. The company management is not the cheapest and not the less bureaucratic in Europe. But with proper plannig and advice the HU Holding Company can function […]
PROBATE PROCESS The local authority of the deceased person’s last place of residence is responsible for preparing the probate proceedings, but they are conducted before the appointed probate notary. All interested parties are obliged to attend the probate proceedings. The procedure is usually governed by the deceased person’s testamentary will or by the applicable legal […]